Technical analysis AUDCAD for 11.07.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.88870. The closest support is the level 0.88430

Key levels

• 0.89750, 0.89320, 0.88870, 0.88430, 0.87850, 0.87470

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.88870, with Take Profit of 0.89320 and Stop Loss of 0.88650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.88430, with Take Profit of 0.87850 and Stop Loss of 0.88650